Information about the Office of the Bursar
What they do:
OFFICE OF STUDENT ACCOUNTS
Phone Number: 202-806-2610
Location: Mordecai Wyatt Johnson Administration Building, Room 115
- Handles all refund and tuition adjustments
- Handles “special billing,” i.e., the official billing (or invoicing) of embassies or other appropriate agencies or organizations responsible for paying the educational expenses of particular students.
- Processes late charges, etc., to students' accounts
- Processes EFT checks and credits to students’ accounts
Validation to paid registrants
OFFICE OF STUDENT FINANCIAL SERVICES
Phone Number: 202-806-2570
Location: Mordecai Wyatt Johnson Administration Building, Room 218
- Processes promissory notes provided by the Office of Financial Aid for University Emergency loans
- Processes promissory notes for Direct Student Loans, Perkins Federal Loans, Health Professions Loans (Medicine, Dentistry, Pharmacy, Primary Care, and Nursing), Loans to Disadvantaged Students, as well as long-term University loans.
- Processes student deferment forms as well as repayment of University and Federal loans
- Loan Collection—Recovery of monies owed to Howard University by students no longer enrolled
Bills are assessed when you are registered for a course and/or clinic.
Inquiries about your bill should be directed to the Office of Student Accounts at 202-806-2600.
Payment in Full:
All charges must be paid in full by the due date:
Fall semester, July 1st and Spring semester, December 17th.
A $50 late fee will be assessed to all accounts with a missed payment later than 5 days.
Howard University offers a 5-month installment plan for the fall and spring semesters. You can enroll by watching the video below.
View the main Student Financial Services website (https://www.howard.edu/studentfinancialservices/accounts/) for more details.
Payments may be made by credit card (Visa, American Express, MasterCard, Discover), cash, money order, cashier‘s check, certified check or wire transfer. A $35.00 fee will be charged for all reversed credit card payments and returned checks. Subsequent checks will not be accepted. Checks and money orders should include the student‘s name and Howard University Identification Number.
Via BisonWeb (E-Cashier video below)
Howard University Office of Student Financial Services
Washington, DC 20059
Send by Wire Transfer
Bank of America
730 15th Street, NW
Washington, DC 20005
For Credit to Howard University
Account Number 1933194600
For Further Credit to:
Send by UPS/DHL/FedEx
Student Financial Services
Office of the Bursar
2400 Sixth St. NW Ste 218
Washington, DC 20059
Third-Party Sponsors/Special Billing
Third-Party Contracts must be submitted to the Office of Student Financial Services/Student Accounts by the appropriate sponsoring agency or organization. The Third-Party Agent is billed once a month. Should the sponsor not submit payment the student is responsible for satisfying the student account.
Credit Balance Funds are created when a student‘s account is overpaid. These funds are refunded to the student as follows:
- Credit Card Payments credited back to the credit card.
Direct Deposit funds transmitted directly to a specified bank account. Direct Deposit is the most efficient way to receive your refund in a timely manner.
Refunds are only processed for students who have met their financial obligations. Law students' funds will disburse onto their accounts in mid-August . Refunds processed via direct deposit will post to students' bank accounts 48-72 hours after the disbursement date. Student refunds will resume its regular Tuesday and Thursday processing schedule beginning September 8.
For your convenience and in the interest of safety, direct deposit is now offered for all Howard University student refunds. This includes all student account credits resulting from student/parent loans, scholarships, grants etc. If you haven’t done so, you may sign up for direct deposit with an established bank of your choice or open a new checking account.
Once direct deposit is set up, it is valid until graduation. If any bank account changes/closures are made please update your account info online. Follow the directions in the video below to enter you Direct Deposit information.
If you have established a direct deposit account and would like to confirm receipt/processing, please follow up with the Assistant Treasurer via e-mail at email@example.com. The Office of Student Accounts and the Office of Financial Aid cannot verify this information.
When you have a financial and/or medical hold on your account you should address it immediately. Registration, Financial Aid disbursements and refunds, and Graduation cannot occur until your hold(s) is removed.
To resolve a Medical hold, please visit the Student Health Center. No office in the School of Law can resolve this for you. We recommend that you retain proof of your removed hold once satisfied.
To resolve a Financial hold, either join a payment plan (BisonWeb steps below) and send proof of enrollment to the Financial Aid Manager, or pay your remaining balance online (Bisonweb steps below). If you prefer, you can also visit the Office of Student Accounts to pay your balance in person. Extraordinary issues should be brought to the attention of the Financial Aid Manager.
You can view holds via your BisonWeb account (BisonWeb steps below). Typically, holds are placed towards the beginning (July/August) and end (December/May) of a semester. However, they can be placed at any time. Please check regularly. See the video below for instructions.
Tax inquiries from U.S. Resident Students:
Please visit the IRS website for information: http://www.irs.gov/Individuals/Students
Tax inquiries from International Students:
Please visit Howard University's website for information: http://www.howard.edu/internationalservices/taxes.html
How can I get a copy of my 1098-T?
Heartland ECSI clients may direct their students to the Heartland ECSI 1098-T Information Page (http://www.ecsi.net/taxinfo.html) for any questions related to their 1098-T statement and to access an electronic copy of their 1098-T statement on the Heartland ECSI portal. To access their 1098-T statement online, students will need their:
- School code - WX
- Social Security Number
Heartland ECSI PIN (emailed to students w/ electronic consent, mailed to students w/o electronic consent). If a student does not know their Heartland ECSI PIN, clients may direct them to the Retrieve Credential Page (https://cgi.ecsi.net/cgi-bin/bcgi.exe?bcgiu4).
Students w/ Electronic Consent
Students that have consented to receive their 1098-T electronically will receive an email notification (unless otherwise agreed upon) within 24 - 48 hours.
Students w/o Electronic Consent
Students that have not consented to receive their 1098-T electronically will have a paper 1098-T statement mailed to them within 24 - 72 hours.
You will not be notified when the 1098-T statements have been printed.
For specific questions about your 1098T form, please contact the Office of Student Financial Services at 202-806-2570.
Where to find your Federal Student Loan Information
The National Student Loan Data System (NSLDS) is the U.S. Department of Education's (ED's) central database for student aid.NSLDSprovides a centralized, integrated view of Title IV loans and grants so that recipients of Title IV Aid can access and inquire about their Title IV loans and/or grant data. You can view and ascertain data on Title IV loans that you have borrowed to help fund your education for both Undergraduate and Graduate levels. Please log on to NSLDS (www.nslds.ed.gov) and obtain a copy of your current aggregate loan amounts.
Federal Direct Stafford Loans
While you're in repayment
Generally, you'll have from 10 to 25 years to repay your loan, depending on which repayment plan (there are several) you choose. Your loan servicer will notify you of the date your first payment is due. If you do not choose a repayment plan, you will be placed on the standard repayment plan, with fixed monthly payments for up to 10 years. Most Direct Loan borrowers choose to stay with the standard repayment plan, but there are other options for borrowers who may need more time to repay or who need to make lower payments at the beginning of the repayment period.
You can change repayment plans at any time by contacting your loan servicer.
The Direct Loan Program offers loan repayment plans designed to meet the needs of most borrowers. Direct Loans are funded by the U.S. Department of Education through your school and are managed by a loan servicer, under the supervision of the Department. The Direct Loan Program allows you to choose your repayment plan and to switch your plan if your needs change.
To find out more about repayment options before receiving a Direct Loan, borrowers may contact their school's financial aid office or the Federal Student Aid Information Center at 1-800-4-FED-AID (1-800-433-3243). If you currently have a Direct Loan and would like the exact payment amount on your loan, you can find it out by contacting your loan servicer.
With the standard plan, you'll pay a fixed amount each month until your loans are paid in full. Your monthly payments will be at least $50, and you'll have up to 10 years to repay your loans.
The standard plan is good for you if you can handle higher monthly payments because you'll repay your loans more quickly. Your monthly payment under the standard plan may be higher than it would be under the other plans because your loans will be repaid in the shortest time. For the same reason—the 10-year limit on repayment—you may pay the least interest.
To be eligible for the extended plan, you must have more than $30,000 in Direct Loan debt and you must not have an outstanding balance on a Direct Loan as of October 7, 1998. Under the extended plan you have 25 years for repayment and two payment options: fixed or graduated. Fixed payments are the same amount each month, as with the standard plan, while graduated payments start low and increase every two years, as with the graduated plan below.
This is a good plan if you will need to make smaller monthly payments. Because the repayment period will be 25 years, your monthly payments will be less than with the standard plan. However, you may pay more in interest because you're taking longer to repay the loans. Remember that the longer your loans are in repayment, the more interest you will pay.
With this plan your payments start out low and increase every two years. The length of your repayment period will be up to ten years. If you expect your income to increase steadily over time, this plan may be right for you. Your monthly payment will never be less than the amount of interest that accrues between payments. Although your monthly payment will gradually increase, no single payment under this plan will be more than three times greater than any other payment.
This plan gives you the flexibility to meet your Direct Loan obligations without causing undue financial hardship. Each year, your monthly payments will be calculated on the basis of your adjusted gross income (AGI, plus your spouse's income if you're married), family size, and the total amount of your Direct Loans. Under the ICR plan you will pay each month the lesser of:the amount you would pay if you repaid your loan in 12 years multiplied by an income percentage factor that varies with your annual income, or20% of your monthly discretionary income*.
If your payments are not large enough to cover the interest that has accumulated on your loans, the unpaid amount will be capitalized once each year. However, capitalization will not exceed 10 percent of the original amount you owed when you entered repayment. Interest will continue to accumulate but will no longer be capitalized.
The maximum repayment period is 25 years. If you haven't fully repaid your loans after 25 years (time spent in deferment or forbearance does not count) under this plan, the unpaid portion will be discharged. You may, however, have to pay taxes on the amount that is discharged.
Under this plan the required monthly payment will be based on your income during any period when you have a partial financial hardship. Your monthly payment may be adjusted annually. The maximum repayment period under this plan may exceed 10 years. If you meet certain requirements over a specified period of time, you may qualify for cancellation of any outstanding balance of your loans.
This plan usually has the lowest monthly payment of the repayment plans that are based on your income. Your payment amount may increase or decrease each year based on your income and family size. To qualify for pay as you earn, you must have a partial financial hardship. You have a partial financial hardship if the monthly amount you would be required to pay on your eligible federal student loans under a 10-year standard repayment plan is higher than the monthly amount under pay as you earn. Once you’ve qualified for pay as you earn, you may continue to make payments under the plan even if you no longer have a partial financial hardship. For this purpose, your eligible student loans include Direct Loans as well as certain types of Federal Family Education Loan (FFEL) Program loans. Although your FFE loans cannot be repaid under pay as you earn, the following types are counted in determining whether you have a partial financial hardship:
- Subsidized and Unsubsidized Federal Stafford Loans
- Federal PLUS Loans made to graduate or professional students
- Federal Consolidation Loans that did not repay any PLUS loans for parents
You also must be a new borrower as of Oct. 1, 2007, and must have received a disbursement of a Direct Loan on or after Oct. 1, 2011. You are a new borrower if you had no outstanding balance on a Direct Loan or FFE loan as of Oct. 1, 2007, or had no outstanding balance on a Direct Loan or FFE loan when you received a new loan on or after Oct. 1, 2007.
Income Sensitive Repayment (ISR) is an alternative to income contingent repayment for loans serviced by lenders in the Federal Family Education Loan Program (FFELP). It is designed to make it easier for borrowers with lower paying jobs to make their monthly loan payments.
The monthly loan payment is pegged to a fixed percentage of gross monthly income, between 4% and 25%. The percentage is determined by the borrower and the resulting monthly payment must be greater than or equal to the interest that accrues. Some lenders set a minimum threshold on the percentage of income based on your debt-to-income ratio.
(A debt-to-income ratio is used by some lenders to ensure that the monthly payment is at least the interest that accrues. The interest that accrues each month is the product of the interest rate and the loan principal, divided by 12. Since the monthly payment must be at least this amount, this means the income percentage must be at least the product of the interest rate divided by 12 and the ratio of the loan principal and the gross monthly income. Thus the income percentage must be at least the debt-to-income ratio multiplied by the interest rate and divided by 12. A good rule of thumb is to use an income percentage that is at least 2/3 of the debt-to-income ratio.)
Borrowers must reapply for income sensitive repayment each year. Borrowers are usually required to provide a copy of their income tax returns and/or W-2 statements every time they apply for income sensitive repayment.
Because income sensitive repayment decreases the monthly payment, as compared with standard repayment, and is limited to a ten year repayment term, it increases the size of the rest of the monthly payments to compensate. This will also increase the total amount of interest paid over the lifetime of the loan may be higher than with standard repayment. Students who believe they may need income sensitive repayment for more than a year should also consider extended or graduated repayment, which reduce the size of the monthly payment by increasing the term of the loan.
Use this Income Sensitive Repayment Calculator to compare the ISR program with standard repayment.
Automated payments (electronic debit)
When you receive your first bill, you'll learn how you can sign up for the electronic debit account (EDA) option and have your bank automatically make your monthly loan payments for you from your checking or savings account. You won't have to write checks, use stamps, or worry if your payment will arrive by the due date. In addition you'll receive a 0.25% reduction in the interest rate on your loans during any period when your payments are made through EDA.
Trouble making payments
If you're having trouble making payments on your loans, contact your loan servicer as soon as possible. Their staff will work with you to determine the best option for you. Options include:
- Changing repayment plans.
- Deferment, if you meet certain requirements. A deferment allows you to temporarily stop making payments on your loan.
- Forbearance, if you don't meet the eligibility requirements for a deferment but are temporarily unable to make your loan payments. A forbearance allows you to temporarily stop making payments on your loan, temporarily make smaller payments, or extend the time for making payments. Read more about deferments and forbearance.
If you stop making payments and don't get a deferment or forbearance, your loan could go into default, which has serious consequences—see below.
Your loan first becomes "delinquent" if your monthly payment is not received by the due date. If you fail to make a payment, you'll receive a reminder that your payment is late. If your account remains delinquent, you'll receive warning notices reminding you of the consequences of default and of your obligation to repay your loans.
If you are delinquent on your loan payments, contact your loan servicer immediately to find out how to bring your account current. Late fees may be added, and your delinquency will be reported to one or more national consumer reporting agencies (credit bureaus), but this is much better than remaining delinquent on your payments and going into default.
Consequences of default
If you default:
- We will require you to immediately repay the entire unpaid amount of your loan.
- We may sue you, take all or part of your federal and state tax refunds and other federal or state payments, and/or garnish your wages so that your employer is required to send us part of your salary to pay off your loan.
- We will require you to pay reasonable collection fees and costs, plus court costs and attorney fees.
- You may be denied a professional license.
- You will lose eligibility for other federal student aid and assistance under most federal benefit programs.
- You will lose eligibility for loan deferments.
- We will report your default to national consumer reporting agencies (credit bureaus).
For more information and to learn what actions to take if you default on your loans, see the Department's Debt Resolution website.
Loan cancellation (forgiveness or discharge)
Under certain conditions, you can have all or part of your loan canceled or discharged. Read more about loan cancellation.
A direct Loan Consolidation allows you to consolidate (combine) multiple federal education loans into one loan. The result is a single monthly payment instead of multiple payments. Carefully consider whether loan consolidation is the best option for you. Loan consolidation can greatly simplify loan repayment by centralizing your loans to one bill and can lower monthly payments by giving you up to 30 years to repay your loans. You might also have access to alternative repayment plans you would not have had before, and you’ll be able to switch your variable interest rate loans to a fixed interest rate. However, if you increase the length of your repayment period, you'll also make more payments and pay more in interest. Be sure to compare your current monthly payments to what monthly payments would be if you consolidated your loans. You also should consider the impact of losing any borrower benefits offered with the original loans. Borrower benefits from your original loan, which may include interest rate discounts, principal rebates, or some loan cancellation benefits, can significantly reduce the cost of repaying your loans. You might lose those benefits if you consolidate. If you want to lower your monthly payment amount but are concerned about the impact of loan consolidation, you can consider reevaluating your budget and income situation. You can also consider deferment or forbearance as options for short-term payment relief needs. Once your loans are combined into a Direct Consolidation Loan, they cannot be removed. The loans that were consolidated are paid off and no longer exist. Read more about consolidation.
If you are having temporary problems repaying your federal student loans, contact your loan servicer to see if you are eligible for deferment. A deferment allows you to temporarily stop making payments on your federal student loans. If you have Direct Subsidized Loans, you are not charged interest on those loans during deferment. You are never charged a fee for applying for a deferment on your federal student loans. Note: interest will continue to be charged during deferment on your Direct or FFEL Unsubsidized and PLUS Loans. If you do not pay this interest during the deferment, it will be capitalized at the end of the deferment.
You may qualify for a deferment if you are:
- enrolled at least half time at an eligible post-secondary school;
- in a full-time course of study in a graduate fellowship pro¬gram;in an approved full-time rehabilitation program for individuals with disabilities;
- unemployed or unable to find full-time employment (for a maximum of three years);
- experiencing an economic hardship (including Peace Corps service) as defined by federal regulations (for a maximum of three years);
- serving on active duty during a war or other military operation or national emergency and, if you were serving on or after Oct. 1, 2007, for an additional 180-day period following the demobilization date for your qualifying service;
- performing qualifying National Guard duty during a war or other military operation or national emergency and, if you were serving on or after Oct. 1, 2007, for an additional 180-day period following the demobilization date for your qualifying service;
- a member of the National Guard or other reserve component of the U.S. armed forces (current or retired) and you are called or ordered to active duty while you are enrolled (or within six months of having been enrolled) at least half time at an eligible school.
If you are having temporary problems repaying your federal student loans and are not eligible for a deferment, contact your loan servicer to see if you are eligible for forbearance. A forbearance is another method of temporarily postponing or reducing loan payments. You are never changed a fee for applying for a forbearance on your federal student loans.
You may be granted a forbearance if you meet one of the following requirements:
- You are unable to make your scheduled loan payments for reasons including, but not limited to, financial hard¬ship and illness.
- You are serving in a medical or dental internship or residency program and you meet specific requirements:
- The total amount you owe each month for all of the Title IV student loans you received is 20% or more of your total monthly gross income (for a maximum of three years)
- You are serving in an approved AmeriCorps position.
- You are performing a teaching service that would qualify for loan forgiveness under the requirements of the Teacher Loan Forgiveness Program
- You qualify for partial repayment of your loans under the Student Loan Repayment Program, as administered by the Department of Defense
- You are called to active duty in the U.S. armed forces.
Note: Interest will continue to be charged during a forbearance on all types of loans. If you do not pay this interest, it will be capitalized at the end of the forbearance.
Stay in touch with your loan servicer—let them know if you've changed your name or permanent address, and make sure that they know when you've completed your educational program or transferred to another school.
Howard University Loans
Loans that are due after the loan borrower separates from the University. No late fees are charged. The only deferment provision is a student deferment for borrowers who attend school on at least a halftime basis. The loan is reported to the (3)three major credit bureaus (upon disbursement). This type of loan is not eligible for consolidation.
The specific term of the loans are stated in the promissory note and are indicated in the individual fund regulations. Federal regulations do not apply to the Howard University Loan Program because the loan belongs to the institution. Please contact the Office of Student Financial Services for details about your University loan at 202-806-2570.
If the student drops below half-time student status